There are some red hot deals this end of financial year period.
There are some red hot deals this end of financial year period.

Best end of financial year on new cars

If you're looking to land a new-car bargain, the clock is ticking.

 

Tax incentives for business vehicles end on June 30, as do many manufacturer deals on new models.

The government's instant asset write-off program allows businesses to buy new equipment and reduce their taxable income, saving thousands on their tax bill.

A small business owner who makes $100,000 per year can reduce this year's income tax bill by more than $16,000 by purchasing a $50,000 vehicle, claiming several years worth of tax deductions in one hit.

Car makers have also sharpened their pencils for the 2020 end of financial year sales, slashing up to $10,000 off the prices of some popular models. This year's sales come on the back of the worst slump on record for the new-car market, although car makers are reporting increased showroom traffic as lockdown restrictions ease.

Manufacturers such as Toyota have recorded "a steady increase in sales over the past two weeks", Subaru says there are "definitely positive signs for the market" and "business is improving by the week", according to Kia.

That said, there are still plenty of dealers eager to shift stock and meet their financial year targets.

The budget friendly Mitsubishi Mirage now comes with a seven-year warranty.
The budget friendly Mitsubishi Mirage now comes with a seven-year warranty.

Hatchbacks and sedans

New cars don't come much cheaper than the MG3 auto, on sale for $16,490 drive-away plus a $777 cash back offer and MG gift pack. Another $500 will get you into an automatic Mitsubishi Mirage (priced from $16,990 drive-away) with a bonus seven-year warranty.

Suzuki's Swift is in run-out, with manual GL Navigator models on sale from $17,690 drive-away, a deal that applies to 2019-plate versions, which are priced up to $5000 less than 2020 equivalents.

Mazda's recently-refreshed Mazda2 is also on sale from $21,990 drive-away, which represents a discount of about $4500.

Manufacturers have pushed prices up in the small-car scene in recent years, concentrating on selling fully-loaded models at closer to the $30,000 mark.

But Hyundai's i30 Go bucks the trend as a more basic proposition available from $21,190 drive-away with a 7-year warranty (a discount of about $3000). The same goes for Kia's Cerato Sport, yours for $23,590 drive-away, or about $4400 less than usual.

SUVs

SUV buyers should consider the Toyota C-HR, which is about $1500 cheaper than normal at $31,990 drive-away, plus a further $1000 contribution towards in-house finance.

Buyers on a budget could consider the Honda HR-V which is in run-out for $26,490 drive-away, a $1000 discount that includes a two-year warranty extension and seven years of roadside assistance.

Nissan's X-Trail SUV is a steal for $28,990 drive-away (a $6000 discount), and the first three years of servicing is free if you finance through Nissan. The brand will also waive the first six months of payments and no deposit is required.

Buyers of the Subaru Forester can expect two years of free servicing.
Buyers of the Subaru Forester can expect two years of free servicing.

Mazda's popular CX-5 medium-sized SUV is on sale from $32,990 drive-away in basic manual Maxx form (a discount of more than $5000). Similar money will get you into an auto Renault Koleos priced from $31,990 drive-away with a 7-year warranty, saving about $3500.

Subaru customers considering a Liberty, Outback or Forester will receive two years of free servicing worth up to $1587, plus $500 in genuine accessories. A new Outback is around the corner, so there might be further deals to be done on existing stock.

Ford is selling the Escape SUV auto for just $28,990 drive-away, a saving of more than $5000.

If you need more room for a growing family, the seven-seat Isuzu MU-X is on sale for $40,990 drive-away - a discount of about $7000.

A new Kia Sorento is around the corner, so the existing model is on sale from $44,690 drive-away, saving customers about $3500.

Toyota has wiped about $8000 off its Kluger GX.
Toyota has wiped about $8000 off its Kluger GX.

Another popular model in run-out is the Toyota Kluger. You can grab a 2WD GX model for $41,990 drive-away, a discount of roughly $8000. If you buy last year's model on Toyota finance, you may be eligible for an additional $1500 saving.

Utes

Ford has discounted much of its Ranger line-up, including the XLT dual-cab auto on sale for $54,990 drive-away - a drop of about $8800. Toyota has similar deals on the HiLux, such as the dual-cab SR5 auto on sale for $53,990 drive-away (an $8600 discount).

Toyota’s popular HiLux SR5 is almost $9000 cheaper than usual.
Toyota’s popular HiLux SR5 is almost $9000 cheaper than usual.

Basic utes are also on sale. Mitsubishi's Triton GLX 2WD single cab manual is available from as low as $25,990 drive-away with a seven-year warranty and an extra $1500 discount.

Mazda is on the cusp of unveiling a new BT-50 ute, so has the single-cab 2WD manual with a tray at $29,990 drive-away for ABN holders and primary producers.

Luxury brands

BMW's 118i M Sport comes with five years of servicing and roadside assistance, plus two optional equipment packages for $49,900 drive away (a discount of at least $3500). The Lexus IS300 Luxury is on sale for $58,888 drive-away, a near-$10,000 discount

Audi has a standard offer across its range that includes five years of free servicing, a five-year warranty (up from three years) and free registration, stamp duty and CTP costs.

BMW’s little hatch comes with five years servicing.
BMW’s little hatch comes with five years servicing.

Land Rover and Range Rover SUVs are effectively 10 per cent off as the brand is paying the GST while increasing the standard warranty from three to five years - top-end customers will save much more than $10,000.

Savings don't come much bigger than the $20,000 discount of the soon-to-be-replaced Mercedes-Benz E-Class, available in E200 Sport Edition trim for $91,700 drive away.

Sports cars

Nissan's old-school 370Z 50th Anniversary is available for $49,990 drive-away (a discount of nearly $10,000), as a new model is set to be unveiled this year.

The Nissan 370Z has had its price slashed by almost $10,000.
The Nissan 370Z has had its price slashed by almost $10,000.

Volkswagen has released a new Golf GTI overseas, but that model won't be here until next year. Enthusiasts can pick up the current model for $48,990 drive-away (saving about $7000). Hot hatch fans could also choose Renault's Megane RS, which is on sale for $45,990 drive-away, a discount of about $5000.

Those who can settle for less potent performance could do well with the Hyundai Veloster, choosing between interest-free finance or a $2000 factory cashback on new models

 

Originally published as Best end of financial year bargains


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